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On December 31, 2016 Bing Company's entire inventory burned. Sales and purchases for the year had been $1,800,000 and $1.224.000, respectively. The beginning inventory Clan

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On December 31, 2016 Bing Company's entire inventory burned. Sales and purchases for the year had been $1,800,000 and $1.224.000, respectively. The beginning inventory Clan 1, 2016) was $470,000. In the past Bing's markup on cost has averaged 25% INSTRUCTIONS Compute the estimated cost of inventory burned

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